NuWave Investment Management LLC Lowers Position in Dollar General Corp. (NYSE:DG)

NuWave Investment Management LLC cut its stake in shares of Dollar General Corp. (NYSE:DG) by 77.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 528 shares of the company’s stock after selling 1,782 shares during the period. NuWave Investment Management LLC’s holdings in Dollar General were worth $101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DG. Capital Square LLC purchased a new position in Dollar General during the first quarter valued at $26,000. Contravisory Investment Management Inc. purchased a new position in Dollar General during the second quarter valued at $26,000. Engrave Wealth Partners LLC purchased a new position in Dollar General during the fourth quarter valued at $31,000. FinTrust Capital Advisors LLC lifted its position in Dollar General by 84.7% during the first quarter. FinTrust Capital Advisors LLC now owns 218 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in Dollar General during the second quarter valued at $33,000. Institutional investors own 92.66% of the company’s stock.

Shares of DG stock opened at $186.45 on Tuesday. Dollar General Corp. has a 12-month low of $125.00 and a 12-month high of $194.84. The company has a current ratio of 1.44, a quick ratio of 0.60 and a debt-to-equity ratio of 1.65. The stock’s 50-day moving average price is $188.16 and its 200-day moving average price is $168.28. The stock has a market capitalization of $47.38 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 1.73 and a beta of 0.53.

Dollar General (NYSE:DG) last posted its quarterly earnings data on Thursday, May 28th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.86. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $7.66 billion. Dollar General had a return on equity of 29.33% and a net margin of 6.69%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period last year, the company earned $1.48 EPS. As a group, research analysts predict that Dollar General Corp. will post 8.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. Dollar General’s dividend payout ratio (DPR) is 21.40%.

Several equities analysts have recently commented on the company. Edward Jones downgraded Dollar General from a “buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Morgan Stanley boosted their price objective on Dollar General from $218.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Bank of America boosted their price objective on Dollar General from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Cleveland Research upgraded Dollar General from a “neutral” rating to a “buy” rating in a research report on Thursday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on Dollar General from $179.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Dollar General has an average rating of “Buy” and an average price target of $195.38.

In related news, CAO Anita C. Elliott sold 11,032 shares of Dollar General stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $192.77, for a total value of $2,126,638.64. Following the completion of the sale, the chief accounting officer now directly owns 15,158 shares in the company, valued at $2,922,007.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carman R. Wenkoff sold 7,300 shares of Dollar General stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $190.13, for a total value of $1,387,949.00. Following the completion of the sale, the executive vice president now owns 12,922 shares of the company’s stock, valued at $2,456,859.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,645 shares of company stock valued at $11,414,046. Corporate insiders own 0.72% of the company’s stock.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, Midwestern, and eastern United States. The company offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, and laundry and other home cleaning supplies; packaged food comprising cereals, canned soups and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.

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Institutional Ownership by Quarter for Dollar General (NYSE:DG)

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